Mortgage applications finally benefited from cooling rates as dour economic outlooks translated to greater affordability. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 20.4%, reversing the week prior’s 1.2% drop. Adjusted purchase applications were up 9%, while the unadjusted…
By KIMBERLEY HAAS President Donald Trump did not bring up the housing crisis and barely mentioned mortgage rates as he addressed a joint session of Congress on Tuesday night. Speaking before the body for the first time since retaking office, Trump highlighted his administration’s accomplishments and laid out a vision for the future, saying the…
The Trump administration has nominated Jonathan McKernan for director of the Consumer Financial Protection Bureau. If confirmed, McKernan, a former board member at the Federal Deposit Insurance Corporation, would head the CFPB over a five-year term. He previously served as senior counsel at the Federal Housing Finance Agency and as an aide to former Tennesee…
By PATRICK LAVERY The inauguration of President Donald Trump to his second, non-consecutive term last Monday was quickly followed by a flurry of executive orders and policy redirection that the administration hopes will set the course for the United States for the next four years. But the first economic crisis of the new Trump presidency…
By ERIN FLYNN JAY As President Donald Trump starts his second term, there is a renewed interest in Opportunity Zones. Opportunity Zones are defined as census tracts in or alongside low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia, and U.S. territories. Enacted through the Tax Cuts and…
A freshly inaugurated Donald Trump signed a slew of executive orders on his first day, including a memorandum titled “Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis.” The memorandum calls for departments and agencies to deliver emergency price relief, including unspecified actions to “lower the cost of housing and expand housing…
Donald Trump will be sworn in for a second time today, and the mortgage industry is anxiously waiting to see how homebuyers and sellers will respond to his administration. “We will eliminate regulations that drive up housing costs, with the goal of cutting the cost of a new home in half,” he said in a…
By DONNA JACKSON and BEN LIEBERMAN The passing of Jimmy Carter sparked much praise for his post-presidency good deeds, particularly his decades of volunteer work with Habitat for Humanity building homes for low-income families. But as President, Carter and several of his successors made housing considerably less affordable by enacting mountains of costly regulations, especially…
By KIMBERLEY HAAS When Donald Trump starts his second term as President of the United States, he will be facing unprecedented challenges in the housing market. Housing is a leading cause of rising costs for American families. National home prices have jumped nearly 40% over the course of the last four years. Mortgage rates, which…
By CHUCK GREEN and KIMBERLEY HAAS Mirror, mirror on the high-ceilinged, lavishly patterned wall, with Donald Trump’s recent reelection, what direction will the U.S. real estate market take? When it comes to the fate of the market, the personal history of top nominees might offer a hint, explained Kateryna Odarchenko, managing director of SIC Group…
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